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Inteko Sale Completed

Mikhail Shishkhanov and Sberbank Investment, a subsidiary of the savings bank, completed the acquisition of the Inteko and Patriot companies and their affiliated structures last week, Vedomosti reported.

The companies, belonging to Yelena Baturina, the wife of former Moscow Mayor Yury Luzhkov, were valued at $1.2 billion in September, when an agreement was reached on the deal. The paper cited an unidentified source as saying Baturina received $600 million for the companies, and the buyers took on debts of about 17 billion rubles ($541 million).

Shishkhanov received 95 percent of the group of companies, with the remainder going to Sberbank Investment.

(MT)

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